New Delhi, Oct 23 (SocialNews.XYZ) Small cap stocks which have been the outperformers of this year’s market rally came under selling pressure on Monday.
BSE Small Cap Index is one of the biggest losers in trade, down 2.4 per cent. In comparison, Sensex is down by just 0.36 per cent.
Among the Small Cap index components, PNB Gilts is down 12 per cent, Ion Exchange is down 9 per cent, Onward Technologies is down 9 per cent, Kirloskar Brothers is down 8 per cent, HCC is down 8 per cent, Rajratan Global Wire is down 8 per cent, Vascon Engineers is down 8 per cent, Vimta Labs is down 8 per cent.
BSE 250 Small Cap Index is down 2.2 per cent.
Among the constituents of the index, KIOCL is down 7 per cent, Amber Enterprises is down 7 per cent, Finolex Industries is down 7 per cent, RCF is down 6 per cent, Indiabulls Housing Finance is down 6 per cent, SJVN is down 6 per cent, Star Cement is down 6 per cent, Bank of Maharashtra is down 6 per cent, ITI is down 6 per cent.
Mid cap stocks are also under selling pressure.
BSE Mid Cap Index is down 1.3 per cent. Among the stocks, Laurus Labs is down 10 per cent, IOB is down 5 per cent, Bank of India is down 4 per cent, UCO Bank is down 4 per cent, ABFRL is down 4 per cent, IRFC is down 4 per cent, BHEL is down 3 per cent.
Even as the headline indices have taken a knock, small and mid cap stocks had survived the selling pressure and outperformed the headline indices.
According to Motilal Oswal Asset Management Company (MOAMC)’s Global Market Snapshot report, Nifty Midcap 150 outperformed all major indexes in September by rising 3.04 per cent.
It has risen by 12.98 per cent, 33.37 per cent, 29.92 per cent in the last three months, six months and one year, respectively.
Similarly, Nifty Smallcap 250 has also performed well during the same period rising by 15.99 per cent, 39.17 per cent, 32.96 per cent in the last three months, six Months and one year, respectively.
(Sanjeev Sharma can be reached at Sanjeev.s@ians.in)
Source: IANS
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